Business News

Key Win for Enbridge Oil Pipeline as Minnesota Court Affirms Regulator Approval

The Minnesota Court of Appeals on Monday affirmed a state regulator's decision that there is sufficient need for Enbridge Inc to replace its Line 3 pipeline, handing the Canadian company a crucial victory in its lengthy battle with environmental opponents.

Empire Midstream Acquires Offshore Gulf of Mexico Pipeline

Empire Midstream announced that its affiliate Empire Auger 12 has acquired the Auger 12” pipeline from Pecten Midstream, a subsidiary of Shell Midstream Partners.

Shell Weighs Blockbuster Sale of Texas Shale Assets

Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, people familiar with the matter told Reuters, marking a key moment in its shift away from fossil fuels as it faces growing pressure to slash carbon emissions.

Ukraine Prepared to Act Against Gazprom Over Central Asian Gas

Ukraine is prepared to take legal action against Gazprom to unblock natural gas supplies from central Asia, the Financial Times reported on Monday.

National Poll Finds Strong Support for Oil and Gas Pipelines

By a margin of more than 3-to-1, Americans believe pipelines are the best option to transport oil and gas compared to the alternatives of truck and train, both of which present additional risk and produce higher levels of carbon emissions.

TC Energy Terminates Keystone XL Pipeline Project

Energy infrastructure company TC Energy said on Wednesday it had terminated the $9 billion Keystone XL pipeline project, months after U.S. President Joe Biden revoked a key permit in a blow to Canada's oil sector.

Abu Dhabi's Mubadala Joins EIG-Led Consortium Buying Aramco Pipeline Stake

Abu Dhabi state investor Mubadala said on Tuesday it has joined a consortium led by U.S.-based EIG Global Energy Partners that had agreed to buy a 49% equity stake in Aramco Oil Pipelines Co.

Hartree Partners Buying Plains All American’s Natural Gas Storage Assets for $850 Million

Plains All American and Hartree Partners announced Plains will sell its Pine Prairie and Southern Pines natural gas storage facilities to an affiliate of Hartree for a total cash consideration of $850 million.

Pembina Pipeline to Buy 50% Stake in Canada's Proposed Cedar LNG

Pembina Pipeline Corp said on Tuesday it would buy a 50% stake in Canada's proposed Cedar LNG Project to develop the floating LNG facility in British Columbia in partnership with indigenous group, The Haisla Nation.

U.S. Recovers $2.3 Million From Colonial Pipeline Ransomware Attack

The U.S. Justice Department on Monday said it recovered some $2.3 million worth of cryptocurrency from the Colonial Pipeline Co ransomware attack.

Yergin to Receive WPC Dewhurst Award

Author and industry expert Daniel Yergin is being recognized for his exceptional contributions to the oil, gas and energy industry with the highest honor of the World Petroleum Council, the Dewhurst Award, WPC announced.

People in the News June 2021

Smith Gabrielse Jeff Gabrielse has been named managing director at HammerHead Trenchless and assumed leadership of the Hammerhead brand within the newly formed Rehabilitation and Replacement (R&R) division of The T..

Third Coast Midstream Announces Sale of Final Non-Gulf Coast Related Assets

Third Coast Midstream announced that on Tuesday, one of its subsidiaries completed the sale of Third Coast Midstream's final non-core asset, and the company has fully reached the goal of becoming a Gulf of Mexico and Gulf Coast-focused midstream company.

Navigator Expanding Carbon Capture Pipeline Project

The proposed carbon capture pipeline system project seeks to provide biorefineries and others a long-term, economic path to materially reduce their carbon footprint by capturing and transporting CO2 through 1,200 miles of pipeline across five Midwest states to a permanent sequestration site.

Savannah Energy in Talks to Buy Exxon's Chad, Cameroon Stakes

Africa-focused Savannah Energy and Exxon Mobil Corp are in exclusive talks over the sale of Exxon's interest in energy assets in Chad and Cameroon. The British oil and gas producer is proposing to buy a 40% operated interest in the Doba oil project in Chad, and a 40% interest in the Chad-Cameroon oil transportation pipeline.

Inter Pipeline Acquires Milk River Pipeline System

Inter Pipeline announced it completed the acquisition of the Milk River pipeline system from Plains Midstream Canada ULC, in exchange for its 100% ownership in the Empress II and 50% ownership in the Empress V straddle plants.

Canada's Inter Pipeline Seals $7 Billion Sector Sale to Pembina After Blocking Brookfield

Pembina Pipeline Corp said on Tuesday it would buy rival Inter Pipeline Ltd in an all-stock C$8.3 billion ($6.90 billion) deal to create one of Canada's top oil and gas transportation companies.

Kinder Morgan to Buy Stagecoach Gas Services for $1.23 Billion

Kinder Morgan Inc said on Tuesday it has agreed to buy Stagecoach Gas Services LLC for $1.23 billion as the pipeline operator looks to expand into the northeast U.S. market.

Colonial Pipeline Says Temporary Network Disruption Resolved

Colonial Pipeline, the largest fuel pipeline in the United States, said it had resolved a temporary network disruption, just weeks after a ransomware attack crippled fuel delivery for several days in the southeast region.

Tellurian to Sell LNG to Gunvor, Delays Louisiana Project Start

U.S. LNG developer Tellurian Inc said on Thursday it signed a 10-year agreement with commodity trader Gunvor Group for 3 million tonnes per annum (MTPA) of LNG.

Total Announces Suspension of MGTC Cash Distributions

France’s Total distributed millions of dollars to a shareholder run by Myanmar’s military through gas sales linked to a pipeline, French newspaper Le Monde reported.

Cabot Oil & Gas, Cimarex to Create $17 Billion Firm in 'Surprise' Merger

Cabot Oil & Gas Corp and Cimarex Energy Co agreed a merger on Monday to form a U.S.-wide oil and gas firm with an enterprise value of some $17 billion, a deal analysts termed surprising in a sector recently focused on "pure-play" models.

Enbridge, Fluxys, EIG Bid for Brazil's Top NatGas Import Pipeline

A consortium of Canada's Enbridge, Belgium's Fluxys and U.S. private equity firm EIG Global Energy Partners has submitted a non-binding offer for Brazil's largest natural gas import pipeline, three people with knowledge of the matter told Reuters this week.

Colonial Pipeline CEO Acknowledges ‘Controversial Decision’ to Pay Hackers

Colonial Pipeline's CEO acknowledged to the Wall Street Journal that his company paid a $4.4 million ransom to hackers as executives were unsure how badly its systems were breached or how long it would take to restore the pipeline.

Pipeline Operator Energy Transfer Mulls Chemicals Acquisition

Energy Transfer is weighing acquisitions in the booming chemicals business, co-founder and executive chairman Kelcy Warren said on Wednesday at a conference in North Dakota, where he also expressed confidence DAPL will continue to operate.

Occidental Petroleum Says Federal Leasing Ban Would Hurt U.S. Oil Growth

U.S. oil and gas producer Occidental Petroleum Corp said federal drilling permits are moving forward in the Permian Basin shale field following a federal pause this year, but a longer-term ban could hurt U.S. oil output.

People in the News May 2021

People   Forde ROSEN (UK) has promoted Senior Corrosion Engineer Marguerite Forde to Integrity Solutions specialist and sales manager, focusing on the U.K. and Ireland. Forde brings a decade of experience and expertise in internal and external corrosion co..

Colonial Pipeline Shuts Down after Cyber Attack

Top U.S. fuel pipeline operator Colonial Pipeline has shut its entire network, the source of nearly half of the U.S. East Coast's fuel supply, after a cyber attack that industry sources said was caused by ransomware.

Energy Transfer Expects $2.4 Billion Boost from Winter Storm

Energy Transfer LP expects to gain roughly $2.4 billion from Winter Storm Uri, which knocked out power and halted the distribution of natural gas in Texas to homes and businesses, company executives said.

TC Energy Posts C$1 Billion Quarterly Loss on Keystone XL Suspension

Canadian pipeline operator TC Energy on Friday swung to a loss in the first quarter, hit by C$2.2 billion ($1.81 billion) impairment charges related to the suspension of its Keystone XL pipeline project.